ELCORA Advanced Materials Corp (OTCMKTS:ECORF) (TSX.V:ERA) Stock Consolidates After The Recent Fall

February 4, 2022February 4, 2022 Pete Matthews ECORF, ECORF news, ECORF stock, ELCORA Advanced Materials Corp (OTCMKTS:ECORF) (TSX.V:ERA), ERA, ERA news, ERA stock, OTCMKTS:ECORF, TSX.V:ERA

ELCORA Advanced Materials Corp (OTCMKTS:ECORF) (TSX.V:ERA) is moving in a range after offering a shareholder update on its expected plans this year. The company’s mission is to concentrate on the worldwide battery supply chain.

Market Stats

On Thursday, ECORF stock ended flat at $0.0464 with more than 27K shares, compared to its average volume of 22.54K shares. The stock has moved within a range of $0.0464 – 0.0464 after opening trading at $0.0520.

Elcora Advanced Materials Corp.: 2022 Development Plans

We intend to harvest and process battery-grade metals and minerals from its present projects in order to use them in patented energy storage technologies. Elcora’s unique edge in graphene, graphite, and Li-ion battery uses, which was established with the help of Canadian government subsidies over the previous six years, will be paired with new battery metal potential.

The opportunities are possible following the recent Moroccan purchase of ten polymetallic/vanadium concessions/licenses, including a former manganese mine. The licenses/concessions comprise a vast footprint of around 14,400 ha. Notably, nine of the ten polymetallic claims contain vanadium sulphide of both hydrothermal and magmatic mineralization. In addition, there is an additional copper and rare earth mineralization from past open-pit mining. So in the coming days, investors should keep an eye on ECORF.

Key Quote

“By acquiring Ermazone high-caliber properties, Elcora positions itself among the future leading mining groups in Morocco. Like other minerals and metals needed for li-ion [lithium-ion] batteries, the thriving renewable industry will accelerate demand for high-quality vanadium. Elcora will commence trial production this month to obtain sufficient material for a production process test run. We are concentrating on achieving our goal of becoming one of Morocco’s largest producers”, said CEO Troy Grant. “2021 was a highly successful year for Elcora where we closed multiple strategic acquisitions that positions Elcora as one of the largest holders of mineral claims in Morocco!”

Traders Corner

ECORF stock is trading below the 20-Day and 50-Day Moving averages of $0.0579 and $0.0658 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0671.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.